efficiency

How Digital Transformation is Shaping Industries

/ nancyrubin

Nowadays, we live in a primarily digital world. Almost everything has transferred online or became digitized these days. The fact of the matter is that technological innovations and advancements are disrupting industries left and right. Simply put, modern technology is forcing industries to take on a new approach, in order to remain relevant in the market, as well as remain efficient. However, technology isn’t the only reason industries must consider a digital approach.

As a matter of fact, it’s the consumers and their purchasing habits and behavior, as well as their tendency to follow the latest trends that also forces industries to adapt. If you don’t adapt, in order to meet consumer expectations and needs, your competitors will most definitely outrun you. Companies across various industries must simply develop a more consumer-centric solution, in order to continue providing a seamless customer experience. That being said, here are a few ways how digital transformation is shaping industries.

Chasing a competitive advantage

Newest innovations on the market are always regarded by companies as an opportunity to outrun competitors. The main reason so many companies across various industries are prioritizing digitalization is that it may allow them to gain a competitive advantage. It only takes a single business to disrupt an entire industry and drastically change the rules simply by adopting a new technology or developing a new approach.

That’s why most companies are in one way or another prioritizing digitalization. As a matter of fact, 47% of company CEOs stated that they are being pushed towards adopting a digital approach for their business by their board of directors while 56% stated that their business digitalization efforts are already increasing company profits. In essence, while some companies are considering digitalization others are already implementing new strategies and approaches. In other words, the digital transformation is bound to happen across various industries sooner or later.

Improving efficiency

The fact that every industry is about to experience a digital transformation is evident. Even the industries that are less likely to consider digitalization, such as oil and gas sector are in fact, doing so. Resource exploration industry has so far avoided digitalization but even they have to adapt to modern trends and innovations. The main reason is that a digital approach enables the oil and gas sector to improve efficiency, reduce operational costs and streamline entire processes, among other things.

That being said, oil extraction professionals that are keeping up with the latest technology have implemented an ecommerce solution. As a matter of fact, reliable oilfield equipment zone essentials can be easily bought and acquired online, thus reducing the downtime and maintenance costs for mission-critical equipment on the field. Not only that but artificial intelligence and automation are also making their way into the resource exploration industry, helping operators streamline the processes of detection and exploitation of natural resources.

Meeting consumer demands

As mentioned before, consumer habits are oftentimes one of the main reasons why industries and companies develop a new approach. After all, if you’re not relevant to your customers you will lose a battle to your competitors. Consumer demand for increased and improved connectivity, as well as their increasing interest in smart devices and IoT (Internet of Things), has already made an impact on various businesses ranging from retail to ecommerce and so on. These demands have made their way even to the automotive industry.

Nowadays, one of the rising trends in this industry is self-driving and highly connected vehicles. Therefore, the cars of the future won’t be able to fly anytime soon but they will surely be able to drive themselves. Vehicle manufacturers and sales dealerships are also adopting a digital approach for their consumers. As a matter of fact, 75% of consumers who are interested in buying a vehicle will conduct their research online. Moreover, a digital approach in the automotive industry is also there to serve new consumer needs, especially since 56% of millennials would rather avoid interacting with salespeople in person.

Reshaping the logistics

The distribution and logistics industry is also experiencing vast changes due to the digital transformation. Logistics and distribution providers are practically being forced to adopt a new approach because their clients are doing so as well. For example, retail and ecommerce sectors are leveraging the newest technology to its fullest potential, thus making numerous promises to their customers, such as next-day or even same-day delivery, in order to boost customer experience. Also, manufacturers in the automotive industry want materials delivered at the right time for production, in order to avoid having to store materials around.

These demands force distribution and logistics providers to step up their game and deliver on their clients’ expectations. Even though logistic providers aren’t part of major brands per se, they still feel responsible for representing those brands through their services. Therefore, as manufacturers and retailers implement their digital approaches, distribution and logistics providers must become an extension of their clients’ brands, in order to remain competitive and relevant.

The world is already reshaped by the digital era and it continues to be transformed. As technology continues to advance, the increasing need for new solutions challenges various industries. Even the industries that are reluctant to transform will eventually have to do so. That is if they wish to remain successful and competitive in the market.

Guest author, Raul Harman, is a B.Sc. in Innovative entrepreneurship and has a lot to say about innovations in all aspects of digital technology and online marketing. While he’s not enjoying football and great food, you can find him on Technivorz.com

3 Tips for More Workplace Efficiency

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How efficient are your employees when you stop to think about it? As a business owner, you want to get the most out of your employees when it comes to efficiency in the workplace.

Sure, most of your employees likely give you a good day’s work by the time they leave the office each day, but could they be even more efficient? If so, what tools and resources would you need to prove them with to accomplish this?

If your business could be more efficient when all is said and done, will you move now to make that happen? If the answer is yes, what will it take in terms of time, effort, even money to accomplish this?

Always Be Thinking Ahead

So that you are able to have the most efficient workplace possible, take note of the following tips:

  1. Your employees

First and foremost, you have to make sure you are hiring the cream of the crop as it relates to your workers.

No matter what role or roles each individual you hire will be responsible for, you can’t afford to be hiring employees who are not team players. They also have to be willing to provide input as to how best to get the job the done.

Although you hire managers (maybe even yourself) to guide your workers, those employees should be encouraged to speak up on what is and is not working.

Finally, be sure that have regular company meetings to discuss efficiency in the workplace. You should even have a suggestion box, one where employees can anonymously leave suggestions on how to improve the flow of work.

  1. Your tools

As great as an employee might turn out to be after you hire them, he or she will require some tools and resources to actually accomplish all of the goals (and more) that you want from them.

That being the case, look at the tools you are providing your workers, reviewing to see where some deficiencies might be. Once they’re found, do you quickly correct them or let them linger?

In order to be a successful business, doing the former is a much better way to see your sales revenue increase over time.

Such tools as audio dictation for better workplace efficiency, video conferencing, credit card readers for sales out in the field etc. can all benefit your employees and your brand. Each of these (and many other tools) assists your employees in being more efficient and ultimately more productive.

Most importantly, be sure that each tool you bring in to your company is thoroughly vetted; meaning of course the respective vendor is too.

You do not want all kinds of hassles with each and any tool you use, hassles that can slow down your company’s ability to efficiently serve customers.

Do You Offer a Winning Workplace Atmosphere?

  1. Your rules

Last but certainly not least, what kind of workplace atmosphere do you offer your workers?

When employees come to work energized and ready to roll up their sleeves, you are much more inclined to get a productive day out of each and every one of them.

Yes, some you hire simply will not pan out over time, so don’t be shocked and/or disappointed when this happens. If you hire dozens and dozens of employees even over just a couple of years, you are going to hit a few bumps in the road along the way.

The most important factor here is making sure that you offer a workplace that is conducive to both business production and career satisfaction.

As employees see a chance for themselves to grow within your business, many of them will take full advantage of such opportunities.

Instead of a workplace that feels like a grind each day, most will view it as an opportunity to succeed professionally and personally.

In turn, you field a much more efficient workplace.

As a business owner and/or manager, how are you striving for workplace efficiency within your company?

About the Author: Dave Thomas covers business topics on the web.

 

You Don’t Have To Be A Jack Of All Trades: The Benefits Of Outsourcing

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To make a business a success these days, you have to excel in several different areas. Very few people have the skillset needed to make it on their own. If you can’t do everything yourself, you have two options. One is to hire a team made up of people with varied skills. The other is to outsource work. If you’re considering outsourcing, here are some of the benefits you could enjoy.

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Reducing costs

Hiring employees, even on temporary contracts, carries a cost. Often, outsourcing projects can save you a huge sum in the long-run. If you’re a new business, outsourcing can be particularly beneficial because it replaces fixed costs with the opportunity to control costs. When you pay somebody a salary, this equates to a set figure. Working with other individuals or agencies outside of the company enables you to spend varying amounts on your terms. If you save money one month, this frees up capital, which you’ll be able to invest in other areas of the business.

You can also reduce costs by eliminating the need to take on staff members on a short-term basis. When you hire people, you often have to cover the cost of training. Short-term contracts tend to offer poor value for money, and often temporary staff won’t give as much for you as somebody who’s been working for you for a long time. If you’re just starting out, you’ll need every dime you’ve got, so saving on recruitment can be hugely valuable.

Accessing specific skills

Outsourcing opens you up to highly-skilled individuals in specific areas. Take the example of a new business owner who is desperate to increase their online profile in a bid to drive sales. This entrepreneur may have creative talents, but they don’t know much about social media or putting together a functional, attractive website. If they choose to outsource, they can access people who have these skills and the abilities to drive the company forward. They can design and implement a social media campaign and create an app which has been expertly developed and verified using jira testing with QASymphony. In weeks, they can go from having a simple website that very few people are aware of to a site that gets hundreds or thousands of visitors every day.

Increasing efficiency

When you outsource work, the firm you choose will be equipped to deal with your requests immediately. They will have access to the technology and programs needed, and they can focus solely on the task in hand. As a consequence, outsourcing also enables you and your in-house team to concentrate on your core business. Essentially, you can devote your time and energy to your priorities and play to your strengths.

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Many businesses outsource work. This option gives them the opportunity to benefit from other people’s skills without offering short or long-term contracts. This saves you money, but it also increases efficiency. If you have a specific task or project in mind, you can work with companies or individuals who are geared up to do this quickly with minimal fuss. They have the experience and expertise, as well as access to the required technology, machinery or equipment.